Why Assignment Consultancy for Accounting Assignment Help Online?
Accounting Assignment requires qualified and experienced experts to help students in getting the solution. It requires in-depth knowledge and skills to apply that knowledge to solve the numerical and theoretical questions and these days finding the best accounting assignment help online provider is a tuff task now.
If you are a student in need of Accounting Assignment Help Online then come to us. We at Assignment Consultancy have best experts to provide accounting assignment help online.
What is Accounting?
Assignment Consultancy defines accounting as the systematic and comprehensive recording of financial transactions pertaining to any business. It covers a vast array of topics and forms the basis of finance.
At Assignment Consultancy, in the subject like accounting, we strive to help students in getting and understanding those basics by helping them in solving as Accounting Assignment Help Online. It is because of this we are the best accounting assignment help online service providers in the industry.
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List of Popular Services We Offer
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Why Assignment Consultancy for all your needs
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Major Field covering at Assignment Consultancy
We at Assignment Consultancy covers 4 major fields to help students in all the areas related to those fields. Those areas are given below:-
- Public Accounting
- Management Accounting
- Governmental Accounting
- Internal Auditing
Major Topics to Provide Accounting Assignment Help Online
We cover all the major topics related to accounting as given below:-
- Bookkeeping, Journal entry and financial statement preparation
- Financial Ratios
- Variance Analysis
- Fixed Assets Accounting
- Bank Reconciliation
- Accounts Payable and Receivables
- Costing & Pricing
- Bond Accounting
- Payroll Accounting
- Present Value, Future value, and other related topics
These are few areas that are covered by our experts Accounting Homework Helpers. Apart from these, we provide services to all the topics from simple numerical to a complex advance accounting problem.
Other Related Topics
Accounting is a vast subject, Besides what we mentioned above, we also provide services to many topics. Few of them are given below:-
|Accounting Concepts and Principles Assignment Help||Equity Method Assignment Help||Performance Management Assignment Help||Accounting Cycle Assignment Help||Petty Cash Book Assignment Help|
|Accounting Equation Assignment Help||Breakeven Analysis Assignment Help||Accounting Equation Assignment Help||Breakeven Analysis Assignment Help||Forensic Accounting Assignment Help|
|Pricing Assignment Help||Budget Planning Assignment Help||Process Costing Assignment Help||Accounting Information System Assignment Help||Revenue Recognition Assignment Help|
|Sampling Assignment Help||Adjusting Entry Assignment Help||Internal Control Assignment Help||Shareholder Equity Assignment Help||Amortization Assignment Help|
|Inventory Assignment Help||Trail Balance Assignment Help||Annual Cash Basis Assignment Help||Job Costing Assignment Help||Treasury Stock Assignment Help|
- What do you mean by the term Accrual Basis in Accounting?
Accrual is one of the most Common terms used in the Accounting World. The term Accruals refers in accounting world for both expenses as well as Income. Accrual refers to the Income which has been earned by the Corporation but has not been recorded in the Financial Statement or expenses which have been incurred in the normal course of business but is yet to be recorded in the Books of Accounts.
Accruals has a Special treatment in the Accounting World as for recording accruals in the Books of Account, there would always be an Adjusting Entry that needs to be recorded in the Financial Statement.
For Explaining the Concept of Accrual Accounting, We will use an Illustration:
R Incorporation Inc. prepares their Books of Account for 1 Year Period from Jan 1- Dec 31. At the end of the Year, Company reported a profit of $450000. While Investigating the Books of Account, It was found that Company has signed a deal in the month of September for 120000$ with a new company. The payment will be received at the end of the deal but the work has been started from September. While Closing the Books of Account for the Year, Company had not included any revenue from the New deal.
In the Present Case, Though R incorporation has not received any revenue in the Current Financial year period until December 31, but since the work started from September, $120000*(4/12) which comes out to $ 40000 has been accrued in the Current Year. So, as per Accrual Basis of Accounting, there needs to be an adjusting entry for recording the $40000 income which accrues in the Current Year. To record the transaction, there would be the following Entry:
|Serial No||Entry||Debit ($)||Credit ($)|
|1||Income Receivable A/c||40000|
|To Profit and Loss A/C||40000|
After an Adjustment Entry, there would always be a two-way effect due to Accrual entry which is as follows:
- Effect In Profit /Loss Account
- Effect in the Balance Sheet
In a case of R incorporation Inc., Due to Adjusting entry, there would be two effects:
- Increase in Income of $40000, So Current Year Income would increase to $450000 plus $40000 which comes out to $490000
- There would also be an increase in Assets by $40000 due to Income Receivable and Increase in Reserves in Liabilities Side by $40000.
- What is the meaning of the term Accounting Principles?
Accounting Principles are the general guidelines or the common set of rules that needs to be applied by Incorporation or an entity while preparing a Financial Statements. Accounting Principles have been made mandatory guidelines by all the Accounting Principle board as it helps the users of Financial Statement to understand the Financial Statement in a simpler manner. Some of the Basic Accounting principles that need to be followed are:
- Revenue Recognition Concept
- Prudence Concept
- Matching Principles Concept
- Cost Basis Principles
- Industry Regulatory Concept Principle
- Consistency Concept
Apart from these, there are many other accounting principles but these are some of the most important Accounting principles that must be followed to prepare a Financial Statements. Different Countries have also adopted and issued additional Accounting principles. For Instance: US have issued one of the toughest and detailed Accounting principles rules which are maintained through Financial Accounting Standards Boards, Commonly known as FASB. These set of rules and underlying guidelines issued by FASB are known as the US Generally Accepted Accounting Principles, commonly known as US GAAP.
- Goodwill Impairment Example
The example showing here is a snapshot related to Goodwill impairment topic for the accounting assignment help online request from a student.
We developed a memo for the students where we give recommendations as per SFAS 142 regulations. WE recommended that SFAS-142 is a new standard which recently comes into the picture after 2001 amendment. As per these firm will have to go for impairment test so as to correctly measure and report the value of impairment.
Any change will be reported as one-time loss/ gain in the income statement. Besides these, we will also evaluate the ethical implications arise due to various impairment test as per SFAS-157 and investors interpretation of the same.
The above examples show the depth and the knowledge of our expert which differentiates us from others. Click here to read more about our accounting homework help service.
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